Susan Spence, MBA, Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee, has issued the ISM Manufacturing PMI report for June.
“The Manufacturing PMI® registered 53.3 percent in June, 0.7 percentage point lower than in May. The overall economy continued in expansion for the 20th month in a row. The New Orders Index expanded for the sixth consecutive month after four straight readings in contraction, registering 56 percent, down 0.8 percentage point compared to May’s figure of 56.8 percent. The June reading of the Production Index is 2.1 percentage points lower than May’s reading of 54.3 percent. The Prices Index remained in expansion, registering 73 percent, a 9.1-percentage point decrease from May’s reading of 82.1 percent. The Backlog of Orders Index registered 50.5 percent, down 1.7 percentage points compared to the 52.2 percent recorded in May. The Employment Index registered 49.7 percent, up 1.1 percentage points from May’s figure of 48.6 percent,” says Spence.
She continued, “In June, U.S. manufacturing activity remained in expansion, growing at a slightly slower pace as compared to the month before. Of the five subindexes that make up the PMI®, the New Orders and Production indexes grew slower as compared to the previous month, and the Employment and Inventories indexes improved with the latter entering expansion territory.”
